Chinese economist Lin Yifu was appointed as the World Bank deputy president and the chief economist, which was the first time nominating Chinese to be such important post. He expresses there are two prospects for Hong Kong in the future, one is becoming the international finance center, another is increasing the integration with mainland.
Speaking of the China economy development, Lin Yifu expresses that China has achieved a quite accomplishment but still encountered the troubles such as income differential between city and country, unfair division of income, society development lagging, more severe environmental problems. He considers although some uncertainties exist in the export, there are still numerous chances in upgrade industries, and the investment will keep the comparative high level.
Lin Yifu predicts that the commodity prices will keep the high level in 2008 in the situation of digestion to the surplus production capability. Yet , there will not be the inflation more than two figures.
Lin Yifu points out the world will face many economical challenges in 2008, but there will not be the huge economic depression. This is only the transitory adjustment in the economic development circle, and after that, the world economy will develop on another new flat form